Eurocastle Investment Limited: Eurocastle Announces Follow on Investment in FINO NPL Portfolio and Investment Grade Ratings Assigned to FINO 1 Securitisation S.r.l.

Guernsey, 24 November 2017 - Eurocastle Investment Limited (Euronext Amsterdam: ECT) ("Eurocastle" or the "Company") today announces that the Company, together with other affiliates of Fortress Investment Group LLC, has agreed to acquire additional interests in the junior notes of both securitisations that collectively own the FINO non-performing loan portfolio from UniCredit S.p.A.. The transaction entails an anticipated investment for Eurocastle of approximately €8 million and is expected to close by the end of January 2018.

This follows the announcements from the rating agencies Moody's & DBRS that they have both assigned ratings to certain notes in FINO 1 Securitisation S.r.l., one of the two securitisations in which Eurocastle holds its interest in the FINO non-performing loan portfolio. This includes the assignment of an investment grade rating by both agencies to the senior notes which comprise 84% of the total notes of the FINO 1 securisation and is therefore an important step towards implementing the Italian state guarantee commonly known as "GACS". Eurocastle believes that the implementation of this structure will provide an opportunity for the Company to raise attractive financing, enhancing the expected returns on its overall investment in the portfolio. Further details of the ratings can be found on DBRS and Moody's websites.

                                          
ABOUT EUROCASTLE

Eurocastle Investment Limited is a publicly traded closed-ended investment company that focuses on investing in performing and non-performing loans and other real estate related assets primarily in Italy. The Company is Euro denominated and is listed on Euronext Amsterdam under the symbol "ECT". Eurocastle is managed by an affiliate of Fortress Investment Group LLC, a leading global investment manager. For more information regarding Eurocastle Investment Limited and to be added to our email distribution list, please visit www.eurocastleinv.com.